judging by the acting (reaction on impact, barely any talking, can falls from head before shot which makes it kind of obvious, because you would be concentrating, not slacking), and the logo saying "talent" (who names a talentshow "talent"), I think this is fake.

It's used to hold the bow. In target shooting, you're not supposed to grip the bow, instead hold it by your lifeline between your palm and thumb. As you release your bow, you let it drop, and the string will catch it. Sorry if my info is wrong, I only shoot NASP.